Manson’s commitment to taking care of our people is steeped in a foundation of tradition, and educating and advancing our employees’ planning for their retirement is an important part. Manson is proud of our employees and their contributions toward our continued growth and success in the marine construction and dredging industry, honoring our heritage as we steadfastly navigate to the future. As such, the company offers several ways for our employees to save and invest in their own futures.
The ESOP
Manson is pleased to celebrate a milestone as an employee-owned company! Ten years ago, Manson, became an ESOP (Employee Stock Ownership Plan company) in order to maintain business continuity and ensure that current and future employees would get to share in the success of the company for another 100+ years.
Manson’s ESOP provides retirement benefits to Non-Craft employees through participation in the ownership of the company. Employee accounts grow through the accumulation of shares each year and employees share in the company’s financial performance through the annual stock value, which is determined by an independent valuation company. Employees have a beneficial interest in their shares in the ESOP, and are paid out the cash value of their shares upon retirement or separation. The ESOP rewards employees for their contributions in our success through our performance, which then manifests itself in the new share price valuation.
Retirement Plans
We offer Non-Craft and Non-Union Craft employer matching retirement plans that provide additional employer benefits, as well as employee tax-deferred 401K savings, and the ability to self-direct their investment options within a rich portfolio. The U.S. Bureau of Labor Statistics reports the typical employer matching program is 3.5%. Manson surpasses this national average in both of our retirement plans.
Manson makes a commitment to provide financial resources for employees for annual investment and retirement planning consultations. We emphasize continuous education through our annual meetings where we review company performance, inform on our ESOP stock valuation with our Trustee, and review the retirement plans and investments. It’s who we are, and why we experience the appreciation of employees who retire and see the value in what they have built with us.
